Ruff Chain founder discusses how to outplay copycats in the market

Li was speaking on Huobi’s weekly Youtube feature Huobi Talk, where livestreams of interviews with guests in the blockchain industry are broadcast. Huobi is an international multi-language digital currency trading platform and exchange.

He credited Ruff Chain’s growing success to the following three aspects: effective anticipation of users’ needs, focus on user adoption above all else, and emphasis on cultivating a community.

“You got to listen to your users, you got to know what they want. You also need to know what they want next.”

He said that he is not afraid of other market players who copy Ruff Chain’s ideas, “I don’t care about cheap. It’s an open market.

“Some people copied us. I know a few companies that simply copied Ruff Chain. But they have no idea what my next move is. That’s why in the next release people switch back to us. People tried their products but after a couple of releases they come back to us and become loyal customers.”

Ruff Chain is a startup that combines the Internet of Things technology with the blockchain. As a public blockchain in the IoT ecosystem, Ruff Chain has attracted continuous attention since it was formally launched on January 28 this year.

Li also talked about how many promising startups with the latest technologies are not achieving their fullest potential, as they are missing a crucial component: propagating their products to the public.

“I think technology is 20 per cent. 70 per cent is the product itself, like how it manages users’ needs, and 10 percent is the marketing.”